This last several weeks I’ve been in negotiations about a joint venture (JV). Actually, it’s more like 2 or 3, because my potential partner wants to create more than one product.

These JVs aren’t the usual “2 marketers create a product , then combine their lists to sell it” we might be used to. These opportunities came from a colleague of one of my web development contacts (I do a bit of freelancing on the side) as a simple request-for-quote. I responded to him with a fair and balanced figure reflecting the work needing done.

At first I was turned down for being above his budget. A few weeks later, however, I got an interesting proposition from him; would I do the work for a lower fee, but also receive a share in the product?

Straight away I could see the potential in what he wants to achieve. The products may not be entirely original, but they target a niche which I know is profitable, and is one I know would benefit from what he wants to build.

It may sound a good long-term money-spinner, but the path is filled with potential problems - cheif of which is that any money I would make from this would be almost entirely dependant on the fortunes of the products. If they sink I could loose out after spending a lot of time developing something for an initial loss.

The last few weeks have been spent ironing out the finer details of what any deal may entail. Striking a balance is tough, especially when money and partnerships are involved. You have to be fair to the other party while protecting your own interests - an agreement weighted to just one partner is an agreement to fail.

If anything does come of these negotiations, I’ll announce it here!